not vested
Stocks to Sell as Fear Returns: Goldman Sachs (GS)
Goldman Sachs Group Inc (NYSE:GS) was one of the leading stocks in the Dow Jones Industrial Average during the post-election ramp to new record highs above the 20,000 level.
Ostensibly, this was driven by hopes for deregulation and the net interest margin lift from the “Trump-flation” rise in long-term interest rates.
Then in January, GS easily beat revenue and earnings expectations; revs of $8.17 billion topped the Street’s mark for $7.42 billion, while earnings of $4.88 per share cruised ahead of $3.82 estimates. Goldman Sachs was propped up in large part by a big bump in trading at the end of the year.
But investors, who started to sour on overbought financials a few days before Goldman’s report, also seem to have forgotten the company’s strong quarterly results.
Shares are now under pressure, falling below their 50-day moving average as a profit-taking dynamic materializes.
Goldman’s next earnings don’t come until April 18. Analysts are looking for earnings of $4.90 per share on revenues of $8.8 billion.
Source: Investor Place